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>> CHINA Latest News

JAN 19, 2013 - CNBC

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Caterpillar Writes Off Most of China Deal after Fraud

Caterpillar uncovered "deliberate, multi-year, coordinated accounting misconduct" at a subsidiary of a Chinese company it acquired last summer, leading it to write off most of the value of the deal and wipe out half a quarter's profits.

Tags: Caterpillar Writes Off Most of China Deal after Fraud,  China Latest News